Fourth quarter sales activity starts strong

​Fourth
quarter office sales activity is off to a
strong start, and is already higher than any other quarter of 2017. Driving the
bus was the sale of Carondelet Plaza. The building sold for $263 per square
foot to Franklin Partners of Chicago. While it is one of the highest sales on
record, it is still below the $287 per square foot paid by KBS in 2006. Located in Clayton, Carondelet
Plaza is one of
the premier office buildings
in St. Louis. The building is anchored by law firm Husch Blackwell.

Sales
activity should continue to rise through the end of the year. Several suburban
office properties are on the market that expect to attract investor
interest. ​